FISME advocates for social security cost less than 10%

New Delhi, Nov. 28 -- Federation of Indian Micro and Small & Medium Enterprises (FISME) has suggested Niramala Sitharaman, Union Finance Minister during the pre-budget meeting on Monday that the social security cost should not be more than 10%.

The top employers federations of the country informed FM Sitharaman that high social security cost of employing workers is coming in the way of creating more jobs in formal sector.





It was the turn of federations of employers both large and small on Monday during the series of pre-budget meetings with the FM.

Highlighting the cost, Prashant Patel President of FISME said that quantum of social security had reached over one third of total wages.

After having contributed 10% of the wages ...